Company registration number N1020367
FARSET ENTERPRISE PARK LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

FARSET ENTERPRISE PARK LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Dr C McGimpsey
Mr F Proctor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Ms V Pollock
Secretary
Ms l Grace
Company number
N1020367
Registered office
638 Springfield Road
Belfast
BT12 7DY
Auditor
Miscampbell & Co
6 Annadale Avenue
Belfast
BT7 3JH
Bankers
Danske Bank
Donegall Square West
Belfast
BT16JS
Solicitors
Mills Selig
21 Arthur Street
Belfast
BT14GA

FARSET ENTERPRISE PARK LIMITED
CONTENTS
Page
Trustees report
Independent auditor's report
Statement of financial activities
Balance sheet
Notes to the financial statements
10-17

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the a¢counting policies set out in note 1 to the
financial statements and comply with the charity's governing document, the Companies Act 2006, FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "kcounting
and Reporting by Charities.. Ststement of Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)"
Objectives and activities
The company's objective is the promotion, for the public benefit, of urban regeneration in the area of social and
economic deprivation in North West Belfast.
Strategies for achieving objectives
To achieve this the company provides business units for start up and small business, at ftexible and favourable rates
with on site help and advice, to encourage the creation of job opportunities for unemployed people in the area.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.
Actwities
Main activities undertaken to further the Company's purposes for the public benefit
One of the main activities of the company is the provision of advice and guidance to anyone wishirwJ to start up a
business venture or to become self-employed.
The company have given regard to The Charity Commission for Northern Ireland's guidance on public benefit.
Achievements and performance
Significant activities and achievements against objectives
Review of activities
The activities of the company continue to involve the creation and stimulation of job opportunities Ihrough support
for the creation of new enterprises and support for existing small businesses, within Northem Ireland (specially in
the deprived area of North and West Belfast).
During the year, the company attracted three new businesses into the park, two of which were new start
businesses. Susan Foster TIA, Sistine's. a company which sells antique. retro and vintage goods. Jude Savage TIA,
J&S Construction Ltd, a local builder, and the third company, Nl Technology Ltd, which has an office locally bL5t
needed additional space for a workroomlwarehouse.
Several of the companies within the park are still struggling to keep afloat after the knock-on effect of the Pandemic
and the rising costs of utilities.
Enquires for units have been steady throughout the year but are mostly for smaller units and there has been no
demand for larger units which businesses tying to lower their overheads.
Factors relevant to achieve objectives
The generation of sufficient rental income to cover running costs enabled the provision of seNi¢es to employment
creation.

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Financial review
Principal funding
The company was originally supported by LEDU and assisted by International Fund for Ireland. No Current funding
applies and company is self financing.
Going concem
Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate
resources to Continue in operational existence for the foreseeable future. For this reason, they continue to adopt the
going concem basis in preparing the financial statements. Further details regarding the adoption of the going
Concern basis can be found in the accounting policies.
Rese￿eS policy
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be
maintained at a level equivalent to between three and six month's expendilure. The trustees consider that reserves
at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity's
Current activities while consideration is given to ways in which additional funds may be raised. This level of reserves
has been maintained throughout the year.
The Trustees will continue to review the level of reserves that is prudent for the charity to hold in relation to known
future development, liabilities and uncertainties.
Structurey governance and management
The company is registered as a charitable company limited by guarantee and was set up by a Memorandum of
Association on 7th April 1987 and is a registered charity number NIC100182.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to
the date of signature of the financial statements were..
Dr C McGimpsey
Mr F Proctor
Mr H Donaghy
Mr D Hagan
Mr S Andrews
Mr J Quinliven
Ms V Pollock
(Resigned 7 May 2025)
Recruitment and appointment of trustees
The management of the Company is the responsibility of the Trustees who are elected and co-opted under the
terms of the Articles ofAssociation. The company secretary is responsible for keeping the books and records of the
company, and is assisted by one other member of stsff.
Serving Trustees have the power to appoint any person as an additional Trustee- the number of Trustees shall not
be subject to any maximum but shall not be less than three. Each year at the AGM a third of the Trustess are
required to retire on a rotational basis, and they can be rfrappointed. The Trustees shall be entitled to such
remuneration as the company may by ordinary resolution determine- any remuneration shall be dee￿d to accrue
from day to day. The Trustees are also entitled to reimbursement of any travel expenses incurred by them in
attending meetings on in connection with any other business of the company.

FARSET ENTERPRISE PARK LIMITED
TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure
Organisational structure and decision-making policies
The company has one member of staff, manager who makes day to day decisions and reports directly to the
Trustees. All major decisions require sanctioning by the Financial Director and the Trustees.
Funds held as custodian trustee
No funds are held as custodian on behalf of others.
Statement of trustees responsibilities
The trustees, who are also the directors of Farset Enlerprise Park Limited for the purpose of company law, are
responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair
view of the state of affairs of the Gharily and of the incoming resources and application of resources, including the
income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to-.
select suitable accounting policies and then apply them consistently-
observe the methods and principles in the Charities SORP,.
make judgements and estimates that are reasonable and prudent., and
prepare the financial statemenls on the going concern basis unless it is inappropriate to presume that the charity
will continue in operalion.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable a¢¢uraGy at
any time the financial position of the Chartty and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with the company's articles, a resolution proposing that Miscampbell & Co be reappointed as auditor
of the company will be put at a General Meeting.
The trustees report was approved by the Board of Trustees.
Dr C McGimpsey
Trustee
26 November 2025

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Opinion
We have audited the financial statements of Farset Enterprise Park Limited (the 'charity') for the year ended 31
March 2025 which comprise the statement of financial activities, the balance sheet and notes to the financial
statements, including significant accounting policies. The financial reporting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting
Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom
Generally Accepted A¢¢ounting Practice).
In our opinion, the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its
incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting PraCti￿-
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) {ISAs (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In audiling the financial statements, we have concluded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or
conditions that, individually or collectively. may cast significant doubt on the charity's ability to ¢ontinue as a going
concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the
relevant sections of this report.
other information
The other information comprises the information included in the annual report other than the financial statements
and our auditor's report thereon. The trustees are responsible for the other infomiation contained within the annual
report. Our opinion on the financial statements does not cover the other information and we do not express any form
of assurance conclusion thereon. Our responsibility is to read the other information and. in doing so, consider
whether the other information is materially inconsistent with the financial statements or our knowledge obtained in
the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the financial statements themselves. If, based on the work we have performed, we conclude that there is a
material misststement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on vthich we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities Accounts and Reports
Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the trustees
report., or
sufficient accounting records have not been kept., or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanation5 we require for our audit.

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Responsibilities of trustees
As explained more fully in the statement of trustees responsibilities, the trustees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatement, whether due to fraud or
error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to
conlinue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor under section 65(2) of the Charities Act {Northern Ireland) 2008 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expe¢ted to influence
the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below-.
obtained an understanding of the legal and regulatory frameworks that are applicable to the Charitable
Company and determined that the most significant are those that relate to the reporting framework (FRS
102 and the Companies Act 2006) and the relevant tax compliance regulation in the United Kingdom-
• understood how the Charitable Company is complying with those frameworks by making enquiries of
management to understand how the Charitable Company maintains and communi¢ates its policies and
procedures in these areas-,
assessed the vulnerability of the Charitable Company's financial statements to material misstatement,
including how fraud might occur by considering the risk of management override and by assuming revenue
cognition to be a fraud risk., and
based on this understanding our audit procedures were designed to identify norfrcompliance with such laws
and regulations.
We assessed the susceptibility of the company's financial statements to material misstatement, induding obtaining
an understanding of how fraud might occur. by-
• identification of related parties.,
making enquiries of management regarding where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud-
• considering the internal controls in place within the company to mitigate the risk of fraud and non-
compliance with laws and regulations-,
To address the risk of fraud, override of controls and non-compliance with laws and regulations, we performed
analytical procedures to identify any unusual or unexpected related party relationships. tested joumal entries to
identity unusual transactions, investigated any signifiGant or unusual transactions and assessed whether
judgements and assumptions made in determining the accounting estimates were suggestive of potential bias.
A further description of our responsibilities is available on the Financial Reporting Council's website at: https:11
W￿.fr¢.0rg.UkIaudlt0rsresponSlbllitles. This description forms part of our auditor's report.

FARSET ENTERPRISE PARK LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF FARSET ENTERPRISE PARK LIMITED
Use of our report
This report is made solely to the Charity's trustees, as a body, in accordance with Part 4 of the Charities Accounts
and Reports Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the
charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To
the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and
the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Patrick Mi
ampbell (
enior Statutory Auditor)
For and on behalf of Mis¢ampbell & Co, Statutory Auditor
Chartered Accountants
6 Annadale Avenue
Belfast
BT7 3JH
26 November 2025
Miscampbell & Co is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a ¢ompany under section 1212 of the Companies Act 2006.

FARSET ENTERPRISE PARK LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted Unrestricted
funds
funds
2025
2024
Notes
Income
Rental income
Investments
94,735
16,475
96,395
13,679
Total income
111,210
110,074
enditure on.
Charitable activities
81,466
84,295
Net income for the yearl
Net movement in funds
29,744
25,779
Fund balances at 1 April 2024
1,816,266
1,790,487
Fund balances at 31 March 2026
1,846,010
1,816,266
The statement of financial activities includes all gains and losses recognised in the year.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
derive from Continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account
under the Companies Act 2006.
The notes on pages 10 to 17 form part of these financial statements.

FARSET ENTERPRISE PARK LIMITED
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Notes
Fixed assets
Tangible assets
12
1,309,045
1,312,439
Current assets
Debtors
Cash at bank and in hand
13
65,209
504,246
75,231
467,366
569,455
542,597
Creditors: amounts falling due within
one year
14
{32,490)
(38,770)
Net current assets
536,965
503,827
Total assets less current liabtlities
1,846,010
1,816,266
The funds of the charity
Unrestricted funds
16
1,846,010
1,816,266
1,846,010
1,816,266
The notes on pages 10 to 17 form part of these financial statements.
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.

FARSET ENTERPRISE PARK LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2025
The members have not required the company to obtain an audit of its financial statement5 under the requirements
of the Companies Act 2006, for the year in question in a¢¢ordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
lo the small companies regime.
The financial statements were approved by the trustees on 26 November 2025
Dr C McGimpsey
Trustee
Company registration number N1020367 (Northern Ireland)

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
The principal activity of the company continued to be the provision of rental units at favourable rates for start-
up business.
Charity information
Farset Enterprise Park Limited is a private Company limited by guarantee incorporated in Northern Ireland.
The registered office is 638 Springfield Road, Belfast, BT12 7DY.
1.1 Accounting convention
The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland. ('FRS 102°) and the Charities
SORP "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by
FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trLEtees
continue to adopt the going Goncern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The
purposes and uses ol the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the
charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are ￿CognIsed once the charity has been notified
of the donation. unless performance conditions require deferral of the amount. Income tsx recoverable in
relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known. the legacy is treated as
contingent asset.
10-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to
third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of dIr￿t cosls and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Freehold land and buildings
Plant and equipment
Fixtures and fittings
0/0
20 % straight line
200/0 Straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and the Carrying value of Ihe asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date. the Charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indication
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss (if any).
1.8 Cash and cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when
there is a legally enforceable right to set off the re¢ognised amounts and there is an intention to settle on a net
basis or to realise the asset and settle the liability simultaneously.
11

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at
transaction price including transaction costs and are subsequently carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transaction, where the Iransaction is
measured at the present value of the future receipts dis¢ounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless
the arrangement ¢onstitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
Critical accounting estimates and judgements
In the application of the charity's a¢Gounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from Ihese estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of the revision and future periods where the revision affects both Current and future
periods.
Income
Unrestrlcted Unrestricted
funds
funds
general
general
2025
2024
Rental income
94,735
96,395
12-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Income from investments
Unrestricted Unrestricted
funds
funds
2025
2024
Interest receivable
16,475
13,679
Charitable activities
Support
costs
2025
Support
costs
2024
Staff costs
Depreciation and impairment
General rates
Bank charges
30.227
3,394
9,781
85
28,783
3,529
5,041
97
F li
Light & heat
Repairs & maintenance
Insurance
Water rates
Bad debts
Telephone
Stationery & postsge
Consumables
General expenses
Computer costs
5,591
11,902
10,125
932
(1,5271
799
173
345
304
141
11,327
6,939
9,336
884
7,537
1.026
228
405
869
419
72,272
76,420
Share of goveman¢e costs (see note 6)
9,194
7,875
81,466
84,295
13-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Support costs
Governance
costs
2025
2024
Audit fees
Legal and professional
4,200
4,994
4,200
4,994
4,300
3,575
9,194
9,194
7,875
Analysed between
Charitable activities
9,194
9,194
7.875
Governance costs includes payments to the auditors of £4,200 (2024- £4,300) for audit fees.
Net movement in funds
2025
2024
The net movement in funds is ststed after chargingl{crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
4,200
3,394
4,300
3,529
Auditor's remuneration
Fees payable to the charity's auditor and assoGiates-
2025
2024
For audit services
Audit of the financial statements of the charity
4,200
4,300
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
10 Employees
The average monthly number of employees during the year was..
2025
Number
2024
Number
14-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
10 Employees
(Continued)
Employment costs
2025
2024
Wages and salaries
Other pension costs
29,528
699
28,127
656
30,227
28,783
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
Freehold land
and buildings
Plant and Fixtures and
equipment
rittings
Total
Cost
At 1 April 2024
1,300.000
11,766
106,102 1,417,868
At 31 March 2025
1,300,000
11,766
106,102 1,417,868
Depreciation and impairment
At 1 April 2024
Depreciation charged in the year
11,686
20
93,743
3,374
105,429
3,394
At 31 March 2025
11,706
97,117
108,823
Carrying amount
At 31 March 2025
1,300,000
60
8,985 1,309,045
At 31 March 2024
1,300,000
80
12,359 1,312,439
13 Debtors
2025
2024
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
62,302
2,907
62,319
12,912
65,209
75,231
15-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
14 Creditors: amounts falling due within one year
2025
2024
Other taxation and social security
Trade creditors
Accruals and deferred income
26,023
30,091
2,429
6,250
6,467
32,490
38,770
15 Retirement benefit schemes
Defined contribution schemes
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the
scheme are held separately from those of the charity in an independently administered fund. The pen￿On cost
charge represents contributions payable by the company to the fund and amounted to £699 (2024- £657).
Contributions totalling £145 (2024.. £145) were payable to the fund at the balance sheet date and are included
in creditors.
16 Unrestricted funds
The unrestricted funds ofthe charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by Ihe trustees for specific purposes.
At 1 Aprll
2024
Incoming
resources
Resources At 31 March
expended
2025
Unrestricted reserves
Revaluation reserve
1.494,266
322.000
111,210
(81,466)
1,524,010
322,000
1,816,266
111,210
(81,466)
1,846,010
Previous year:
At 1 April
2023
Incoming
resources
Resources At 31 March
expended
2024
Unrestricted reserves
Revaluation reserves
1,468,487
322,000
110.074
(84,295)
1,494,266
322,000
1,790,487
110,074
(84,295)
1,816,266
16-

FARSET ENTERPRISE PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
17 Analysis of net assets between funds
Unrestricted
funds
2025
At 31 March 2025:
Tangible assets
Current assetsl(liabilities)
1,309,045
536,965
1,846,010
Unrestrl¢ted
funds
2024
At 31 March 2024:
Tangible assets
Current assetsl(liabilities)
1,312,439
503,827
1,816,266
18 Related party transactions
Transactions with related parties
During the year the charity entered into the following transactions with related parties..
One of the trustees in the ¢ompany (FEPL) are also trustees in Farset Development Limited (FDL). Included
in Other Debtors is a loan of £Nil (2024.. £10,005) due from FDL.
17-